The University of Michigan, defense contractor Lockheed Martin Corp. and a foundation helping Appalachian children all own stakes in an overseas investment fund backing two major Chinese companies, which recently froze their stocks and missed financial reporting deadlines.

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Small investors blame bad advice from brokers for big losses
Susan Bernardo trusted her stockbroker. She wound up losing a fortune.
Her broker, David Harris, advised her to sell $400,000 worth of relatively safe municipal bonds, she says, and...

HONG KONG - Actor and singer Nicholas Tse Ting-fung is to become the largest shareholder in publicly-listed See Corporation after selling a controlling stake in his post-production company for nearly $16 million.
Tse, whose career stretches from Hong...

Alibaba Holding Group's IPO officially became the world's largest ever on Monday.
Underwriters who helped make the Chinese e-commerce network a public company exercised an option to sell off some extra shares, bringing the total haul from the IPO to...

HONG KONG -- SMI Culture, a sister company to mainland China multiplex operator SMI Corporation, has unveiled a stock issue and the acquisition of a film production company in Beijing.
Shares of SMI Culture had been suspended from trading on the Hong Kong Stock Exchange for some two months, but plunged by more than 50% on news of the deal and the complicated series of capital reconstruction manoeuvres that accompany it. Shares closed Monday trade at HK$0.485 each.
SMI Culture is to pay HK$360 million...

HONG KONG - Shares in Alibaba Pictures Group were suspended from trading on the Hong Kong Stock Exchange Friday after the company found irregularities in its accounts.
The company warned that its financial results may be affected and that publication will be delayed.
Alibaba Pictures is the film-investment arm of Alibaba, China's giant home shopping conglomerate which is seeking a New York share listing, possibly worth some $150 billion.
It is unclear whether the Alibaba Pictures Group problems will...